Following the recent bout of risk aversion,.....>

YEN: Following the recent bout of risk aversion, JPY crosses remain the main

focus this week as we approach month-end. EURJPY breached the long-term 38.2%

retracement level from the 2012 low to 2014 high (Y128.36) last week to keep the

downtrend intact. Bears target a break of Y127.00, before challenging Y126.85/64

(76.4% Y124.91-133.13, Oct 26 low), below here opens the ytd low at Y124.62.

GBPJPY has nearly retraced the last 6-weeks of gains, holding heavy around

Y143.45/50. Expect near-term support ahead of Y143.00, opening Y142.77 (Oct26

low), ahead of Y142.22 (76.4% Y139.90-149.71). CADJPY trades Y85.45/50,

near-term support seen at Y85.36 (100-dma) & 200-dma (Y85.02), below here opens

up trendline support off the June lows at Y84.85. NZDJPY last at Y73.30 with

bears targeting a break of the Y72.25/40 area which provides support from a

series of lows through Aug-Oct.